COUP stock aims for 20th straight earnings beat

  • Coupa Software will report FQ1 earnings on June 6 after market close.
  • Wall Street expects 5 cents/share on $190.7 million.
  • COUP has beat consensus estimates for 19 straight quarters.

Coupa Software (COUP) is up 2.8% at $72.72 on Monday morning ahead of the fiscal first quarter results it is scheduled to unveil after market close. Wall Street is expecting $0.05 in adjusted earnings per share (EPS) on revenue of $190.7 million. Coupa has the distinction of having bested consensus expectations for both adjusted EPS and revenue for all 19 of its quarters since going public in 2016. The odds are good then that this quarter will be another beat, although more than half (12 of 21) of analyst EPS revisions have been downward in the past 90 days.

In May Goldman Sachs downgraded COUP from Buy to Sell, while Bank of America maintained its Buy raiting, and Morgan Stanley maintained its Overweight rating. The company’s software platform helps businesses save money by controlling invoicing, procurement and employee expenses.

Coupa Software Stock Forecast: Bulls looks ahead to $92.70

Coupa stock has made it above the 9-day moving average recently. It seems the rest of the market is expecting an earnings beat as well. Mired down in the low $70s since drooping over 56% year to date, COUP stock has a lot of general market pessimism weighing it down. The fact that the 9-day has overtaken the 21-day moving average is a good sign that optimism is on the rise however. The crossover is the first time that the 9-day is leading since April 18.

Support is at $64 and $57. Resistance and the first spot bulls will shoot for in the event of a major eanings beat is $92.70. This was resistance in late April and early May. Above there is $110, which acted as resistance in late March and early April.

COUP daily chart

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